Fresh Bus, an inter-state electric bus service provider, has raised Rs 87.5 crore in its Series A funding round, according to media reports. The round was led by transportation-focused VC fund Maniv and saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings, as per media reports.
The newly acquired funds will be utilised for expanding routes, scaling operations, enhancing technological capabilities, and strengthening the team, according to media reports. Fresh Bus plans to add 15 new routes and launch 150 e-buses as part of its growth strategy, as per media reports.
As per media reports, Sudhakar Chirra, Founder and CEO of Fresh Bus aims to scale up to 1,000 electric buses across India in the next four years
This funding follows the Rs 43.7 crore raised by the start-up last month in an earlier Series A round, as per media reports.
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